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Country Club Apartments Deliver $1M

MESA, AZ-A Beverly Hills, CA multifamily buyer picks up the Country Club Apartments for $1.3 million from a long-time Mesa investor. The deal is one of a slew of recent multifamily purchases by California investors.

By Lee Simmons | Updated on April 23, 2004

MESA, AZ-A California investor has purchased the Country Club Apartments for $1.3 million from a long-time Mesa investor, paying out 99% of the list price for the 27-unit property.

“It was a real clean deal with great street frontage in an area that is really on the rise,” Brian Smuckler, a senior associate with Marcus & Millichap in Phoenix, tells GlobeSt.com. “There is not a whole lot of product available at the moment.”

Greg Cohen of Beverly Hills is the buyer; Bob Armenta of Mesa is the seller. The trade is the well-maintained Country Club at 1917 E. Broadway Road in Mesa.

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